Sportsman's Warehouse Holdings, Inc. - $SPWH STOCK NEWS

Sportsman’s Warehouse Holdings, Inc. appoints Paul Stone as CEO and President, effective November 1, 2023. Joseph Schneider to retire as Independent Chair at the end of the year. Rich McBee to succeed Schneider as Independent Chair. Stone's experience in retail and digitization strategy expected to catalyze growth and improve customer experience.

Steven W. Sansom appointed to Sportsman’s Warehouse Board of Directors

Sportsman's Warehouse Holdings, Inc. reports disappointing Q2 results with net sales decreasing by 11.8% and same store sales decreasing by 16.1%. Gross profit decreases to 32.6% of net sales. SG&A expenses increase to 33.1% of net sales. Net loss of $(3.3) million compared to net income of $14.6 million in Q2 2022. Adjusted net loss of $(1.6) million compared to adjusted net income of $15.1 million in Q2 2022. Adjusted EBITDA decreases to $13.1 million. Diluted loss per share of $(0.09) compared to diluted earnings per share of $0.35 in Q2 2022. For the first six months of fiscal year 2023, net sales decrease by 12.6% and same store sales decrease by 16.9%. Gross profit decreases to 31.3% of net sales. SG&A expenses increase to 34.9% of net sales. Net loss of $(18.9) million compared to net income of $16.6 million in the prior year period. Adjusted net loss of $(16.4) million compared to adjusted net income of $17.3 million. Adjusted EBITDA decreases to $7.5 million. Diluted loss per share of $(0.50) compared to diluted earnings per share of $0.38. Third quarter fiscal year 2023 outlook expects net sales to be in the range of $310 million to $330 million with adjusted diluted earnings per share in the range of negative $0.20 to negative $0.05.

Sportsman's Warehouse Holdings, Inc. will hold its quarterly conference call to discuss second quarter 2023 financial results on September 6, 2023.